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US airline shares surge

Shares in most US carriers rose sharply on Tuesday, led by an 11.8% jump in US Airways shares, as crude oil futures eased by nearly USD1 per barrel. Delta Air Lines shares rose 9.7%, with most US carriers up by more than 5%. Latin American airlines' shares also rallied but not as strongly. Copa and LAN both reported strong Feb-2011 traffic.

Copa Holdings reported the following consolidated traffic highlights in Feb-2011:

Mexicana announced it is in talks with potential new investors and hopes to make its return by 18-Apr-2011. The bankrupt carrier has reportedly had proposals from five different groups including TG Group, BMC Financial, Avanza Capital and Ivan Varona. It reportedly has until Aug-2011 to decide on an investor.

Selected AAD daily share price movements (% change): 8-Mar-2011

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